The Ontario Teachers' Pension Plan Board has appointed an executive based in London to oversee its real estate team’s strategy, portfolio and asset management activities globally.
Ontario Teachers' said it appointed Jenny Hammarlund to the position of executive managing director of real estate effective Jan. 5. She had been leading the pension fund's real estate investment group in the United Kingdom and Europe.
Hammarlund joined Cadillac Fairview in 2021 and moved to Ontario Teachers’ in 2024 when the pension fund absorbed Cadillac Fairview's international real estate team.
The promotion of Hammarlund comes "at a critical time for our plan," said Gillian Brown, chief investment officer of public and private investments at Ontario Teachers'.
"Real estate is an important asset class for Ontario Teachers' as it helps provide stable and predictable income to match our long-term liabilities, and its returns are typically uncorrelated to those of equities or bonds," Brown said in a statement.
Hammarlund, who speaks four languages, has over two decades of experience in private equity, with a primary focus on real estate acquisitions and investments. Her previous stints include serving as a managing director at H.I.G. Capital and sourcing and executing real estate investments in Europe for KKR and in the United States for Lehman Brothers Real Estate Partners.
The Ontario Teachers’ Pension Plan is one of the world’s largest pensions funds. Its portfolio includes approximately $30 billion of investments in major real estate markets worldwide.